WASHINGTON, Nov. 21: The U.S. Department of Agriculture’s weekly export inspection report showed that U.S. soybean export inspections last week increased by 18.6% from a week earlier, but decreased by 7.4% from the same period last year.
U.S. soybean export inspections were 2,329,082 tonnes for the week ended November 17, 2022, compared to 1,964,181 tonnes last week and 2,516,355 tonnes a year earlier.
So far, the total amount of U.S. soybean export inspections in the 2022/23 season (starting on September 1) has reached 17,128,301 tons, a year-on-year decrease of 10.5%. It was down 11.6% year-on-year last week and 9.7% year-on-year two weeks ago.
U.S. soybean export inspections reached 30.8% of the USDA’s forecast target, compared with 26.4% the previous week.
USDA’s November 2022 Supply and Demand Report forecasts U.S. soybean exports in 2022/23 at 2.045 billion bushels (55.66 million tonnes), unchanged from the October forecast and 5.23% lower than the 2.158 billion bushels in 2012/22. %. For comparison, U.S. soybean exports in 2021/22 fell 4.77% year-on-year.